EPOXY RESINS PAINTS MARKET ANALYSIS
There is increasing demand for epoxy resins in paint and coatings industry, as epoxy-based paints and coatings help in preventing corrosion and rust. This is one of the major factors driving growth of the epoxy resins paints market. According to the CXOs, there is significant growth in demand for epoxy resin in all the regions, owing to its favorable properties and demand in wide area of applications. Also, growth of construction industry due to increase in population and changing lifestyle is expected to drive growth of paints and coating industry, which in turn will increase the demand for epoxy resins in paints.
Moreover, it finds application in aircraft industry, owing to its properties such as corrosion, water, and chemical resistant, superior adhesion, thermal stability, durability, and mechanical strength, which is expected to drive growth of the global epoxy resins paints market over the forecast period.
However, factors such as fluctuating raw material cost and high price of epoxy is expected to restrain growth of the epoxy resins paints market.
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